The ophthalmic lasers market is projected to reach USD 1,245.4 Million by 2021 from USD 970.2 Million in 2016, at a CAGR of 5.1%. The ophthalmic lasers market segmented into four major regions, namely, North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
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Among these regional segments, North America is expected to account for the largest share of the global market.
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Stakeholders in the Ophthalmic Lasers Market:
- Ophthalmic Lasers Manufacturing Companies
- Suppliers and Distributors of Ophthalmic Lasers
- Research and Consulting Firms
- Healthcare Service Providers, including Hospitals, Specialty Clinics, and Ambulatory Surgery Centers (ASCs)
- Research Institutes
- Venture Capitalists
Global ophthalmic lasers market, by application, in 2016. This can be attributed to the increasing incidence of refractive errors and better clinical outcomes due to technological advancements in ophthalmic lasers.
However, the cataract removal segment is projected to grow at the highest CAGR from 2016 to 2021. Automation of several steps performed manually during cataract surgery by femtosecond lasers is expected to augment the demand for ophthalmic lasers in this application.
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North America expected to account for largest share of global ophthalmic lasers market, followed by Europe, Asia-Pacific, & Rest of the World (RoW). North America’s large share attributed to increasing prevalence of ophthalmic disorders, rising prevalence of chronic diseases, and increasing regulatory approvals.
In coming years, ophthalmic lasers market is expected to witness highest growth in Asia-Pacific region, with emphasis on India, China, and Japan.
Ophthalmic Lasers Market, By Application
2 Refractive Error Correction
3 Cataract Removal
4 Diabetic Retinopathy Treatment
5 Glaucoma Treatment
6 Age-Related Macular Degeneration Treatment
The high growth in this regional segment can be attributed to factors such as high prevalence of ophthalmic disorders, introduction of initiatives for the prevention of blindness and treatment projects for various ophthalmic disorders, and rising aging population. On basis of product type, the market is segmented into femtosecond lasers, excimer lasers, Nd:YAG lasers, diode lasers, and other lasers.
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The market witnesses high competitive intensity, as there are several big and many small firms with similar product offerings. These companies adopt various strategies (expansions; new product launches; marketing and promotion; agreements, collaborations, contracts, partnerships, and joint ventures; funding; acquisitions; patent grants, website launches, and product enhancement) to increase their market shares and establish a strong foothold in the global ophthalmic lasers market.
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